Pinterest (NYSE:PINS) Sets New 1-Year Low After Insider Selling

Pinterest, Inc. (NYSE:PINS - Get Free Report) shares reached a new 52-week low during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $26.95 and last traded at $27.06, with a volume of 9522666 shares traded. The stock had previously closed at $31.38.

Specifically, Director Benjamin Silbermann sold 102,083 shares of Pinterest stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $31.27, for a total transaction of $3,192,135.41. Following the transaction, the director now owns 6,274 shares of the company's stock, valued at $196,187.98. This trade represents a 94.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Barclays raised their price target on Pinterest from $36.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. Oppenheimer lifted their price target on shares of Pinterest from $40.00 to $50.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Royal Bank of Canada upped their price target on shares of Pinterest from $48.00 to $50.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Guggenheim restated a "buy" rating on shares of Pinterest in a report on Tuesday, April 1st. Finally, Raymond James lowered shares of Pinterest from an "overweight" rating to a "market perform" rating in a research note on Monday. Eight analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $43.07.

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Pinterest Stock Down 3.2 %

The firm has a 50 day moving average of $34.23 and a 200 day moving average of $32.38. The firm has a market cap of $16.67 billion, a PE ratio of 9.14, a P/E/G ratio of 1.95 and a beta of 0.99.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. On average, research analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PINS. Price T Rowe Associates Inc. MD grew its position in shares of Pinterest by 104.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company's stock valued at $737,533,000 after purchasing an additional 12,986,310 shares in the last quarter. Ameriprise Financial Inc. grew its position in Pinterest by 49.7% during the fourth quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock worth $395,441,000 after buying an additional 4,527,902 shares in the last quarter. State Street Corp increased its stake in Pinterest by 1.2% in the 3rd quarter. State Street Corp now owns 12,773,652 shares of the company's stock worth $413,483,000 after acquiring an additional 156,748 shares during the last quarter. FMR LLC raised its holdings in shares of Pinterest by 2.6% in the 4th quarter. FMR LLC now owns 12,599,356 shares of the company's stock valued at $365,381,000 after acquiring an additional 316,633 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Pinterest during the 4th quarter valued at about $358,205,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

About Pinterest

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.